Net-Leased Home Improvement
490 McKinley Street Corona, CA 92879
490 McKinley Street, Corona, CA, 92879
Contact for pricing
For Sale
Contact for pricing
Single-tenant Home Depot with remaining primary term and scheduled rent increases in a regional shopping center.
Property Size100,000 SF
Lot Size8.82 Acres
Price / SF$299.07
Days on Market55
Property Features for 490 McKinley Street
General Information
- Standard status
- Active
- Size
- 100,000 SF
- Lot size
- 8.82 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1989
Listing agency
CBRE - Atlanta
Listed by
Chris Bosworth · License #GA 248342
Source
Crexi
Added: May 28 Updated: Jul 10 at 1:51PM Checked: Jul 20 at 3:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Atlanta
Investment Insights
Based on property information with market context.
CBRE is pleased to offer for sale a 100,000-square-foot Home Depot on 8.82 acres in Corona, CA. The property is occupied under a net lease with approximately 8.7 years remaining in the primary term. The lease includes an 8.13% rent increase in 2030, plus two additional 5-year renewal options with 10% rent increases at the onset of each option. The offering represents a stabilized single-tenant retail asset anchored by Home Depot.
Home Depot serves as a central anchor of Corona Hills Plaza, a 489,151-square-foot shopping center. The center is home to a mix of national retailers including Costco, TJ Maxx, Ross Dress for Less, Five Below, Dollar Tree, and Big 5 Sporting Goods, along with dining concepts such as Lazy Dog Restaurant & Bar and Texas Roadhouse. The property is located at 490 McKinley Street and is positioned for visibility and access along State Route 91 (approximately 220,000 VPD) near the I-15 interchange, with direct connectivity off the McKinley Street exit.
For investors seeking a net-leased, single-tenant retail purchase with contractually defined remaining term and scheduled rent steps, this Home Depot provides a straightforward tenant/lease structure within a broader retail destination serving regional demand.
Home Depot serves as a central anchor of Corona Hills Plaza, a 489,151-square-foot shopping center. The center is home to a mix of national retailers including Costco, TJ Maxx, Ross Dress for Less, Five Below, Dollar Tree, and Big 5 Sporting Goods, along with dining concepts such as Lazy Dog Restaurant & Bar and Texas Roadhouse. The property is located at 490 McKinley Street and is positioned for visibility and access along State Route 91 (approximately 220,000 VPD) near the I-15 interchange, with direct connectivity off the McKinley Street exit.
For investors seeking a net-leased, single-tenant retail purchase with contractually defined remaining term and scheduled rent steps, this Home Depot provides a straightforward tenant/lease structure within a broader retail destination serving regional demand.
Key Highlights
- 100,000 SF single‑tenant Home Depot on 8.82 acres in Corona, CA (Home Depot in Corona Hills Plaza).
- Net lease has 8.7 years remaining in the primary term and includes a scheduled 8.13% rent increase in 2030.
- Lease includes two 5‑year renewal options with 10% increases at the start of both renewal options.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $2.16M | $21.60 |
| − Vacancy | −$183.6k | −$1.84 |
| EGI | $1.98M | $19.76 |
| − OpEx | −$592.9k | −$5.93 |
| NOI | $1.38M | $13.83 |
100,000 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$19.76M
$17.29M – $23.06M
NOI $1,383,480 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$31.10M
$27.22M – $36.29M
NOI $2,177,280 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
911 Mobile Mechanic
Auto Repair Shop
Plumbing Repair Service ...
Plumbing Service
Compact Power Equipment ...
(Bike/Boat/Book/etc) Store
Pro Desk at The Home ...
Big Box & Wholesale Store
Home Services at The Home ...
General Contractor
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Single-tenant Home Depot with remaining primary term and scheduled rent increases in a regional shopping center.
Where is this retail space located?
The property is located at 490 McKinley Street Corona, CA.
What is the asking price?
The asking price for this property is $29,906,542.
What are key features of this property?
This property features: 100,000 SF single‑tenant Home Depot on 8.82 acres in Corona, CA (Home Depot in Corona Hills Plaza).; Net lease has 8.7 years remaining in the primary term and includes a scheduled 8.13% rent increase in 2030.; Lease includes two 5‑year renewal options with 10% increases at the start of both renewal options.
